Global Butylated Triphenyl Phosphate Market: Snapshot
The global butylated triphenyl phosphate market is prophesied to receive a good momentum from the role of a flame retardant additive in polymer manufacture, which calls for an increasing engagement of engineering and high-performance plastics. On account of a sluggish economic growth in different regions of the world, it could be challenging for players to project the future demand in the market. Europe and North America are anticipated to suffer an affected demand in major end-use sectors. This could be due to their economic crisis and incomplete recovery.
However, leading players are prognosticated to create opportunities in the global butylated triphenyl phosphate market by investing more in research and development efforts. This is envisioned to be made possible with their established distribution networks and widespread reach in the international market. Moreover, the players could take to upgrading their current offerings for newer applications with the help of their solid market development and technical capabilities.
Although butylated triphenyl phosphate has been considered to be added to the list of Chemicals of High Concern for Children (CHCC) by the Washington Department of Ecology under its Children’s Safe Products Reporting Rule, an immediate non-listing proposal has been put in place. Major manufacturing entity, Israeli Chemicals Industrial Products America (ICL-IPA) has called for the non-listing of butylated triphenyl phosphate from the CHCC list while furnishing data in favor of its non-usage in children’s products and safety. The final report of the rule is expected to be published by the department in September 2017.
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Global Butylated Triphenyl Phosphate Market: Overview
The global market for butylated triphenyl phosphate is expected to witness a phenomenal growth in the foreseeable future. The primary factor behind the growth of the market is the burgeoning demand for this compound from the automotive sector. As per the findings of the Organisation Internationale des Constructeurs d’Automobiles (OICA) correspondent’s survey, the total number of vehicles produced in 2015 were close to 90.78 bn. Butylated triphenyl phosphate is used in various applications such as lubricants, hydraulic fluids, and flame retardants. The market is anticipated to experience significant growth challenges owing to the toxic behavior of the compound on animal health. The U.S. National Center for Biotechnology Information implicates butylated triphenyl phosphate-based hydraulic fluid as reproductive and endocrine toxicants in rodents.
This research report provides a concise analysis of the various important aspects of the global butylated triphenyl phosphate market. It presents a detailed overview of the market dynamics and the extent to which they impact the growth. It offers insights into the statistics related to the market at both global and regional levels. It takes into account the current scenario and historic data to derive trends of the market in the forthcoming years. It extensively covers tools such as market attractiveness analysis and Porter’s five force analysis that are useful in gauging the competitive environment of the market. It also profiles prominent players in the global butylated triphenyl phosphate market along with their latest development, revenue generation, business strategies, market shares, and contact information.
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Global Butylated Triphenyl Phosphate Market: Trends and Opportunities
Due to the excellent thermal resistance of butylated triphenyl phosphate, it is used as an additive in lubricants. Therefore, the increasing automobile production across the globe along with repair and maintenance activities is boosting the global demand for lubricants, which is working in favor of the growth of the global butylated triphenyl phosphate market. Butylated triphenyl phosphate is also used in flame retardants, which is used in polymer manufacture. Hence, the staggering volume of demand for engineering plastics is driving the market.
Global Butylated Triphenyl Phosphate Market: Region-wise Outlook
The regional markets covered in the report are Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. Asia Pacific will be a prominent market for butylated triphenyl phosphate throughout the forecast horizon, with China being a key contributor to the growth of the region. The growing number of vehicles and the robust growth of the automotive and construction industries are contributing to the growth of the region. The large industrial base in emerging countries such as India and China is also supplementing the growth of the region.
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Latin America will progress at a noteworthy CAGR during the forecast period. The flourishing growth of the end-user industries is fuelling the market. There is a rising demand for butylated triphenyl phosphate as flame retardants as well as lubricants in the construction industry.
Global Butylated Triphenyl Phosphate Market: Competitive Landscape
Product innovation is of critical importance to the majority of players in the global people counting system market to stay relevant. Some of the key companies operating in the market are CHemwill Asia Co. Ltd, Lanxess AG, Chemtura Corporation, and Mattei Compressors Ltd. The established distribution network and wide market reach are assisting key players in maintaining their strong foothold in the market.
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